The Presidential Daily Brief

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Altice to Buy Cablevision in $17.7 Billion Deal

They’re invading America. European telecom giant Altice is buying Cablevision in an agreement reportedly valued at nearly $18 billion. The move — which will see French-Israeli billionaire Patrick Drahi pay a mix of cash and stocks — should close by mid-2016. Banks are already lining up to finance the deal for Altice, which has been expanding into European television and radio in recent months. This coup will make Drahi’s group the owner of Newsday newspaper and the No. 4 cable operator in the U.S.